21:52 14 November 2019
Analysts negatively surprised by decline in Poland’s GDP growth
According to the Central Statistical Office (GUS), seasonally unadjusted GDP (at constant average annual prices of the previous year) increased in real terms by 3.9 percent compared to the same period last year. Economists expected the economy to grow by 4 percent and some – like Pekao – forecasted 4.1 percent growth. Seasonally adjusted GDP (at constant prices for the reference year 2010) increased in real terms by 1.3% compared to the previous quarter and was higher than last year by 4.0 percent, the GUS also announced.
Pekao bank analysts quickly stated that economic growth in Poland is slowing down. The economists of mBank also described this as a surprise in minus, as did the GDP readings for the third quarter in other countries of the region, i.e. in Romania, the Czech Republic and Slovakia. In turn, ING bank analysts are considering the components of this result, assuming a slowdown in consumption and investment.
